Official Club Stuff 2023 Financial Results & Annual Report

[Aphrodite]

Blues announce 2023 financial result

The Carlton Football Club has released its 2023 Annual Report.

www.carltonfc.com.au

THE Carlton Football Club has today announced a net operating profit, after depreciation and amortisation, of $1,523,504 for 2023 (2022: $3,390,993). It is noted the 2023 year reflects a full year depreciation for the completed redevelopment at IKON Park.

The result has contributed to the Club declaring a statutory net profit position of $3,302,904 (2022: $17,020,366). Noting that 2022 included both capital and operational non-recurring grants received, as well as philanthropic contributions towards the IKON Park redevelopment.
The strong financial performance this year can be attributed largely to the Club’s member base and incredible crowd attendance, as Carlton broke yet another membership record in 2023 with a final total of 95,277 members, a seven per cent increase on last year (88,776)

2023 Annual Report Link (pdf) ...

https://resources.carltonfc.com.au/aflc-carl/document/2023/11/30/0caf7237-501b-4980-b893-9d03f2ec15b6/2023-Annual-Report-Carlton-Digital.pdf

 

[thylacine60]

Had no idea what amortisation meant. Luckily there's this simple definition on Wikipedia.

In accounting, amortization refers to expensing the acquisition cost minus the residual value of intangible assets in a systematic manner over their estimated "useful economic lives" so as to reflect their consumption, expiry, and obsolescence, or other decline in value as a result of use or the passage of time.

 

[passmark]

Not a bad result.

I look forward to my fully franked dividend cheque from Luke Sayers.

 

[BigFrizz36]

Remember the days that we hoped that we might just make a tiny profit and retire some of our debt.

 

[ferrisb]

Had no idea what amortisation meant. Luckily there's this simple definition on Wikipedia.

In accounting, amortization refers to expensing the acquisition cost minus the residual value of intangible assets in a systematic manner over their estimated "useful economic lives" so as to reflect their consumption, expiry, and obsolescence, or other decline in value as a result of use or the passage of time.

Amortisation is basically depreciation, but for non-physical assets.

Depreciation example - Your business buys a car for $60k, then sells it five years later for $10k, taking a loss of $50k. Instead of taking the loss in one hit in year 5, you spread the 'expected loss' over the five years, basically saying 'I lost $10k on this car this year' each year. You can do this in your financial accounts and in your tax return.

Amortisation is like that but for assets you can't touch, like brand names, trademarks and goodwill (which is an accounting term for 'I probably overpaid for this business')

That's as simple an explanation as my brain can conjure up late on a Friday night. Hope that helps.

 

[ferrisb]

Now here's a bold-faced lie from the annual report...

 

[AndyLucimitis]

Amortisation is basically depreciation, but for non-physical assets.

Depreciation example - Your business buys a car for $60k, then sells it five years later for $10k, taking a loss of $50k. Instead of taking the loss in one hit in year 5, you spread the 'expected loss' over the five years, basically saying 'I lost $10k on this car this year' each year. You can do this in your financial accounts and in your tax return.

Amortisation is like that but for assets you can't touch, like brand names, trademarks and goodwill (which is an accounting term for 'I probably overpaid for this business')

That's as simple an explanation as my brain can conjure up late on a Friday night. Hope that helps.

Smoothing it out


Sent from my iPad using Tapatalk

 

[thylacine60]

Amortisation is basically depreciation, but for non-physical assets.

Depreciation example - Your business buys a car for $60k, then sells it five years later for $10k, taking a loss of $50k. Instead of taking the loss in one hit in year 5, you spread the 'expected loss' over the five years, basically saying 'I lost $10k on this car this year' each year. You can do this in your financial accounts and in your tax return.

Amortisation is like that but for assets you can't touch, like brand names, trademarks and goodwill (which is an accounting term for 'I probably overpaid for this business')

That's as simple an explanation as my brain can conjure up late on a Friday night. Hope that helps.

stupid amortisation.....

 

[passmark]

Now here's a bold-faced lie from the annual report...

View attachment 1864365

The face (who’s absence) launched a ten game winning streak and 3 final appearances in 2023.

 

[Bletch]

Amortisation is basically depreciation, but for non-physical assets.

Depreciation example - Your business buys a car for $60k, then sells it five years later for $10k, taking a loss of $50k. Instead of taking the loss in one hit in year 5, you spread the 'expected loss' over the five years, basically saying 'I lost $10k on this car this year' each year. You can do this in your financial accounts and in your tax return.

Amortisation is like that but for assets you can't touch, like brand names, trademarks and goodwill (which is an accounting term for 'I probably overpaid for this business')

That's as simple an explanation as my brain can conjure up late on a Friday night. Hope that helps.

So, how would it work, if say I buy a social media platform for $43 billion, and a year later it's practically worthless? Would I write off the whole $43 billion against my income for that year, or could I do it in say $4b chunks for the next 10?

Asking for a friend...

 

[BlueTongue]

All this 'Club in a healthy financial position' and winning finals malarkey is really starting to Piss me off!
Absolutely no decent bluemours to be had anywhere...